CIEBA Move Months in the Making

May 11, 2000 (PLANSPONSOR.com) - CIEBA, an
organization representing large corporate pension funds,
Wednesday announced that it has affiliated with the
Association for Financial Professionals (AFP), formerly the
Treasury Management Assocation. The move, effective June 1,
means that CIEBA will leave the Financial Executives
Institute (FEI).

CIEBA, which stands for Committee on Investment of
Employee Benefit Assets, is far and away the most prominent
group representing large corporate plans. It has been part
of the FEI since its inception in 1985, but this past six
months working relationships between CIEBA staffers and
their FEI counterparts have become acrimonious, according
to sources.

No surprise

The new relationship with the AFP should come as no
surprise, considering the present head of the AFP, Jim
Kaitz, used to be the FEI executive responsible for CIEBA.
He was widely seen as an extremely effective lobbyist for
corporate pension issues. Kaitz left the FEI in mid-1998 to
head up the then-TMA, which he transformed in two short
years into a more aggressive and stronger organization.
Kaitz, who has made it his business to remain close with
CIEBA leadership, has pulled off another coup.

“We are looking forward to working with AFP in
developing both public policy and investment practices that
will benefit the thousands of participants belonging to the
retirement plans of our members,” Allen Reed, chairman of
CIEBA and president of General Motors Investment
Management, said in a prepared statement.

Jacque Johnson, executive director of CIEBA, will become
vice president, CIEBA at AFP and will continue to be the
primary CIEBA contact in the Bethesda office.

CIEBA counts more than 140 large corporate funds among
its members. Collectively, they manage over $1 trillion in
plan assets. AFP represents 14,000 financial
professionals.